Following the American-led bombings on 3 nuclear sites in Iran, the Iranian parliament has now reportedly moved to close the Strait of Hormuz which is widely seen as one of the most important trade routes in the world.
The Lowdown
The Strait of Hormuz which is understood to transport about 20% of the world’s oil and gas may be in for some trouble. According to reports, Iranian ‘s parliament appears to be moving to close the critical trade route which without fail would send the world diizzyingly towards another disaster.Â
Some reports claim that Iranian officials have been discussing closing the Strait since at least last week although the clarity surrounding those reported discussion remains unclear. Iran has, however, made it clear that they intend to retaliate — to what scale though also remains unclear.